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Swing Capital

Brigade Enterprises Ltd

NSE: BRIGADE BSE: 532929Infra

Brigade Enterprises Ltd was established in 1986. It is a real estate developer in South India, based in Bengaluru, and expanding its area of operations in other parts of India. It has completed over 250 buildings aggregating to over 70 mn. sqft of developed space in residential, offices, retail, and hospitality sectors across Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, Kochi [1] [2] [3]

₹663
52W: ₹601 — ₹1332
PE 57.7 · Book ₹259 · +156% vs book
Market Cap₹16,229 Cr
Stock P/E57.7Price to Earnings
ROCE5.83%Return on Capital
ROE4.51%Return on Equity
Div. Yield0.36%Face Value ₹10

Strengths

  • +Company is expected to give good quarter

Weaknesses

  • −Stock is trading at 2.53 times its book value
  • −The company has delivered a poor sales growth of 11.5% over past five years.
  • −Company has a low return on equity of 6.80% over last 3 years.
  • −Earnings include an other income of Rs.259 Cr.
  • −Working capital days have increased from 32.4 days to 65.6 days

Shareholding Pattern

Promoters41.11%
FIIs16.75%
DIIs24.74%
Public17.4%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters43.72%41.37%▼2.441.37%41.14%▼0.241.13%▼0.041.13%41.12%▼0.041.11%▼0.0
FIIs16.17%18.47%▲2.320.23%▲1.820.21%▼0.019.33%▼0.918.67%▼0.718.14%▼0.516.75%▼1.4
DIIs22.86%24.02%▲1.222.91%▼1.122.87%▼0.023.44%▲0.623.28%▼0.223.55%▲0.324.74%▲1.2
Public17.26%16.14%▼1.115.5%▼0.615.77%▲0.316.09%▲0.316.95%▲0.917.19%▲0.217.4%▲0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales414857534422543619436661712816
Expenses326641423349436474389630606679
Operating Profit87216111721071454731106137
OPM %21%25%21%17%20%23%11%5%15%17%
Net Profit4716066919120855508389
EPS ₹2.046.942.843.713.738.512.252.053.393.66

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,624Cr, up 23.9% YoY. OPM at 12%.

Debt Position

Borrowings at ₹3,064Cr. Debt-to-equity ratio: 0.50x. Moderate leverage.

Institutional Flow

DIIs: 24.74% (-0.71pp change). FIIs: 16.75% (+3.08pp change). Promoters hold 41.11%.

Margin & Efficiency

ROCE declining from 10% (Mar 2015) to 6% (Mar 2026). Working capital days: 66.

Valuation

PE 57.7x with 5.83% ROCE. Price is 156% above book value of ₹259. Dividend yield: 0.36%.

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